Foreign National Mortgage Program

Foreign National Mortgage Program

Foreign National Mortgage Program

Owning property in the United States is a dream many people have. This includes U.S. citizens, residents, foreign nationals, and those living outside the United States. However, foreign nationals and people living outside the U.S. may not know what type of home loan programs are available to them and the requirements of that home loan.

What is a Foreign National Mortgage Program?

A foreign national home loan is a type of home mortgage meant to help foreign nationals purchase a home in the United States. Due to the effects of the borrower’s immigration status, this home loan can not be considered a conventional home loan.

Can a Foreign National get a Home Loan?

The short answer is yes, a foreign national can get a home loan in the United States. However, while there is no law restricting a foreign national’s ability to receive a home loan not all mortgage lenders offer a foreign national home loan program. Depending on the mortgage lender and the borrower’s situation, terms for a foreign national home loan may vary.

What Documentation does a Foreign National need to Receive a Home Loan?

Once again, this depends heavily on the borrower’s situation and on the mortgage lender. Based on the amount of time the foreign national has spent living in the United States they may be able to provide one of the following: social security number, W2 forms, and credit history. It would be beneficial to the borrower to provide as much documentation as possible, but it is not mandatory for a foreign national home loan.

Meanwhile, mortgage lenders may or may not require a social security number, green card, FICO score, U.S. credit report, and proof of employment going back two years (regardless of whether your employment is located within or outside the United States). Keep in mind that once a foreign national is approved for a home loan, the mortgage lender may require the borrower to meet other conditions. The borrower will be informed of the exact requirements once they are approved for the loan.

What is Kingston Mortgage’s Foreign National Program?

Kingston Mortgage believes everyone should have the chance to own their own property. Under that belief, we created The Foreign National Loan Program which is open to anyone interested in owning property in the United States. Under The Foreign National Program, both foreign nationals currently living in the United States and foreigners living outside the United States can qualify for a home loan under The Foreign National Program. Our program can approve home mortgages up to $5 million regardless of whether the borrower is working in the United States with a visa or residing in another country. Our Foreign National Program is flexible to suit any situation. Even if you do not have a green card, credit score or W2 form, you can qualify for a mortgage under the foreign national program.